Cramer's 'Mad Money Lightning Round': E*Trade Excels

Stock quotes in this article: ETFC , KONG , CHL , SNY , CELG , PDC , RIG , HAL , SLB  

Click here for an archive of Cramer's "Mad Money" recaps.

Here's what Jim Cramer had to say about some of the stocks that callers offered up during the "Mad Money Lightning Round" Wednesday evening:

KongZhong(KONG Quote): "When we talk about wireless, I am not going to speculate in China. ... I can get myself some CHL (China Mobile(CHL Quote), which is the greatest multiple story in the world. Let's not speculate with Kong, when we can invest with China Mobile."

Sanofi Aventis(SNY Quote): "The drug stock to buy -- as it has been for 40 points -- is Celgene(CELG Quote)."

Manulife(MFC Quote): "A Canadian company that is every bit as good as my two favorites, Pru (Prudential(PRU Quote) and Met (MetLife(MET Quote). High basis, take a little bit off the table. It is not expensive, you can let it run."

Pioneer Drilling(PDC Quote): "Sell your ne'er-do-well driller and get into some of my service companies," such as Baker Hughes(BHI Quote), Halliburton(HAL Quote), Schlumberger(SLB Quote) and Transocean(RIG Quote), the last of which Cramer owns for his Action Alerts PLUS

NightHawk(NIHK Quote): "I missed the comeback ... management better than I thought. I'm just putting it in Don'tBuy."

E*Trade(ETFC Quote): "Even if you looked at the absolute worst-case scenario ... even if they took a $1 billion writedown ... I think the stock's a buy here."

Furmanite(FRM Quote): "Too small for my show. But I do like that story."

New York Community Bancorp(NYB Quote) needs a couple more rate cuts before it's good. ... If you want an area bank, I'm gonna send you to Hudson City(HCBK Quote)."

MDU Resources(MDU Quote): "I like EPD (Enterprise Product Partners(EPD Quote). Yours I'm doing a DontBuy on. Mine I'm doing a triple buy on."

Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here.

For more of Cramer's insights during the Lightning Round, click here.

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At the time of publication, Cramer was long Transocean.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.

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